New Accounting Standard for EGP Free Floatation

The Minister of Investment issued Decree no. 16 of 2017 to add a new annex (Annex A) to the Egyptian Accounting Standard no. (13) concerning "The Effects of Changes in the Prices of Foreign Currencies". The new annex provides for special accounting treatment to deal with the consequences of the floatation of the Egyptian Pound against foreign currencies. The Decree entered into force on 16 February 2017.

Posted in News on Mar 09, 2017